Outcome of Monitoring committee Held on 29.05.2025, for approval of 2nd Quarter and Half Year Ended 30.09.2021 Unaudited Standalone & Consolidated Financial Results with Limited Review Report.
Awaiting price reaction for this filing.
Birla Cotsyn (India) Ltd, which has been under liquidation since September 2019 following a failed CIRP, got its Monitoring Committee to belatedly approve years of unaudited quarterly and annual financial results stretching from FY2018-19 through FY2024-25, including the headline Q2 and H1 FY22 results. For the half year ended 30 September 2021, revenue from operations was zero with only Rs. 167.45 lakh of other income, a loss before tax of Rs. 307.57 lakh, and EPS of negative Rs. 0.01. The FY21 audited numbers show a full-year loss of Rs. 669.46 lakh on similar near-zero operations. The balance sheet at 30 September 2021 shows deeply negative shareholders' equity of around Rs. 396 crore, current borrowings of about Rs. 172 crore, and other current liabilities of roughly Rs. 539 crore. The committee also approved a Rs. 3 crore working capital infusion tied to the compromise scheme and decided to file an application before NCLT against demands raised by MIDC, NSDL, CDSL and BSE for the CIRP/Liquidation period.
The filing confirms a revival path under the NCLT-approved Composite Scheme of Compromise and Arrangement, but the business has had no operating revenue for years, equity is deeply negative at roughly minus Rs. 396 crore, and liabilities far exceed assets, signalling very high risk for existing shareholders with strong dilution potential. The stock remains a highly speculative micro-cap revival bet rather than a fundamentally improving business.